A $820,000 mortgage in Canada at 5.04% costs about $4,787.85 per month for principal and interest over 25 years. In Canada, CMHC mortgage-default insurance is required with less than 20% down and is added to your loan.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $16,937 | $40,517 | $803,063 |
| 2 | $17,802 | $39,653 | $785,261 |
| 3 | $18,710 | $38,744 | $766,551 |
| 4 | $19,665 | $37,789 | $746,886 |
| 5 | $20,669 | $36,786 | $726,217 |
| 6 | $21,724 | $35,731 | $704,494 |
| 7 | $22,832 | $34,622 | $681,661 |
| 8 | $23,997 | $33,457 | $657,664 |
| 9 | $25,222 | $32,232 | $632,442 |
| 10 | $26,509 | $30,945 | $605,932 |
| 11 | $27,862 | $29,592 | $578,070 |
| 12 | $29,284 | $28,170 | $548,786 |
| 13 | $30,779 | $26,675 | $518,007 |
| 14 | $32,350 | $25,105 | $485,658 |
| 15 | $34,000 | $23,454 | $451,657 |
| 16 | $35,736 | $21,719 | $415,922 |
| 17 | $37,559 | $19,895 | $378,362 |
| 18 | $39,476 | $17,978 | $338,886 |
| 19 | $41,491 | $15,963 | $297,395 |
| 20 | $43,608 | $13,846 | $253,786 |
| 21 | $45,834 | $11,620 | $207,952 |
| 22 | $48,173 | $9,281 | $159,779 |
| 23 | $50,632 | $6,822 | $109,147 |
| 24 | $53,216 | $4,239 | $55,932 |
| 25 | $55,932 | $1,523 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $820,000 mortgage is about $4,787.85 per month. Canadian fixed mortgages compound semi-annually (not monthly) and usually run a 5-year term within a 25-year amortization.
No — this is principal and interest only. Property tax and home insurance are paid separately on top. In Canada, CMHC mortgage-default insurance is required with less than 20% down and is added to your loan.
Over the full 25-year term at 5.04%, total interest on a $820,000 mortgage is roughly $616,355. Overpaying reduces this substantially.
Sources: Bank of Canada / CMHC; Standard amortization (annuity) formula.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.